UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


WASHINGTON,
      D.C. 20549


_____________________




FORM
      10-QSB




QUARTERLY
      REPORT UNDER SECTION 13 OR 15(d)
      OF THE
      SECURITIES EXCHANGE ACT


OF
      1934


For
      the
      quarterly period ended June 30, 2007




TREND
      MINING COMPANY


(Exact
      name of small business issuer as specified in its charter)




Delaware
            
            81-0304651(State
                or other jurisdiction of
              incorporation
                or organization)
            
            (I.R.S.
                Employer
              Identification
                No.)




301
                  Central Ave. #384
                Hilton
                  Head, SC 29926(Address
                  of principal executive offices)
 
 Issuer’s
        telephone number: (843) 842-7247
 
 5439
                  South Prince Street
                Littleton
                  Colorado 80120(former
                  address)








Check
      whether the issuer (1) filed all reports required to be filed by Section 13
      or
      15(d) of the Exchange Act during the past 12 months (or for such shorter period
      that the registrant was required to file such reports), and (2) has been subject
      to such filing requirements for the past 90 days. Yes x No o




Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Exchange Act). Yes o
      No x





The
      number of shares of common stock, par value $0.01 per share, outstanding as
      of
      September 12, 2007: 55,755,477 shares





Transitional
      Small Business Disclosure Format (Check one): Yes o No x









**PART
      I – FINANCIAL
      INFORMATION**





ITEM
                1.
            FINANCIAL
                STATEMENTSBalance
                Sheets
            1Statements
                of Operations
            2Statement
                of Stockholders’ Equity (Deficit)
            3Statements
                of Cash Flows
            4Notes
                to the Financial Statements
            6ITEM
                2.
            MANAGEMENT’S
                DISCUSSION AND ANALYSIS OR PLAN
                OF OPERATION
            14ITEM
                3.
            CONTROLS
                AND PROCEDURES
            17**PART
                II –
                OTHER INFORMATION**ITEM
                1.
            LEGAL
                PROCEEDINGS
            19ITEM
                2.
            UNREGISTERED
                SALES OF EQUITY SECURITIES AND USE
                OF PROCEEDS
            19ITEM
                6.
            EXHIBITS
            19









**PART
      I –
      FINANCIAL INFORMATION**




**ITEM
      1.** **FINANCIAL
      STATEMENTS.**




**TREND
        MINING COMPANY**
 **(An
        Exploration Stage Company)**
 **BALANCE
        SHEETS**




June
                30,
            
            September
                30,2007
            
            2006**ASSETS**CURRENT
                ASSETSCash
            
            $
            66,552
            
            $
            390,680Accounts
                receivable
            
            
            14,114
            
            
            35,291Prepaid
                expenses
            
            
            9,000
            
            
            -Total
                Current Assets
            
            
            89,666
            
            
            425,971MINERAL
                PROPERTIES
            
            
            -
            
            
            -PROPERTY
                AND EQUIPMENT, net of depreciation
            
            
            7,971
            
            
            10,853OTHER
                ASSETSAvailable
                for sale securities
            
            
            206,019
            
            
            78,625Reclamation
                bonds
            
            
            -
            
            
            7,720TOTAL
                ASSETS
            
            $
            303,656
            
            $
            523,169**LIABILITIES
                AND STOCKHOLDERS' DEFICIT**CURRENT
                LIABILITIESAccounts
                payable
            
            $
            60,381
            
            $
            65,174Accounts
                payable, related parties
            
            
            15,000
            
            
            15,000Accrued
                expenses, related parties
            
            
            32,000
            
            
            2,468Interest
                payable, convertible debt
            
            
            181,402
            
            
            416,645Current
                portion of long-term convertible debt
            
            
            732,362
            
            
            215,259Total
                Current Liabilities
            
            
            1,021,145
            
            
            714,546LONG-TERM
                CONVERTIBLE DEBT, net of current portion
            
            
            1,264,913
            
            
            1,497,207COMMITMENTS
                AND CONTINGENCIESSTOCKHOLDERS'
                DEFICITPreferred
                stock, $0.01 par value, 20,000,000 shares authorized; no shares issued
                and
                outstanding
            
            
            -
            
            
            -Common
                stock, $0.01 par value, 100,000,000 shares authorized; 55,755,477
                and
                48,975,804 shares issued and outstanding, respectively
            
            
            557,554
            
            
            489,758Additional
                paid-in capital
            
            
            13,509,847
            
            
            12,909,764Accumulated
                other comprehensive income
            
            
            163,519
            
            
            36,125Accumulated
                deficit prior to exploration stage
            
            
            (558,504
            )
            
            (558,504
            )Accumulated
                deficit during exploration stage
            
            
            (15,654,818
            )
            
            (14,565,727
            )Total
                Stockholders' Deficit
            
            
            (1,982,402
            )
            
            (1,688,584
            )TOTAL
                LIABILITIES AND STOCKHOLDERS' DEFICIT
            
            $
            303,656
            
            $
            523,169




The
      accompanying condensed notes are an integral part of these financial
      statements.





1




**TREND
        MINING COMPANY**
 **(An
        Exploration Stage Company)**
 **STATEMENTS
        OF OPERATIONS AND COMPREHENSIVE LOSS**
 Period
                    fromOctober
                    1, 1996(Inception
                    ofThree
                    Months Ended
                
                Nine
                    Months Ended
                
                Exploration
                    Stage)June
                    30,
                
                June
                    30,
                
                June
                    30,
                
                June
                    30,
                
                to
                    June 30,2007
                
                2006
                
                2007
                
                2006
                
                2007ROYALTY
                    REVENUES
                
                $
                35,000
                
                $
                71,846
                
                $
                126,268
                
                $
                71,846
                
                $
                295,666EXPENSESExploration
                    expense
                
                
                102
                
                
                22,378
                
                
                42,029
                
                
                66,869
                
                
                3,331,741General
                    and administrative
                
                
                (8,914
                )
                
                98,376
                
                
                150,160
                
                
                228,676
                
                
                3,552,008Officers
                    and directors compensation
                
                
                12,000
                
                
                109,220
                
                
                93,303
                
                
                294,658
                
                
                2,488,849Legal
                    and professional
                
                
                22,350
                
                
                162,765
                
                
                178,246
                
                
                483,491
                
                
                2,205,820Depreciation
                
                
                739
                
                
                667
                
                
                2,882
                
                
                2,086
                
                
                61,047Total
                    Expenses
                
                
                26,457
                
                
                393,416
                
                
                466,620
                
                
                1,075,780
                
                
                11,639,465OPERATING
                    INCOME (LOSS)
                
                
                8,543
                
                
                (321,570
                )
                
                (340,352
                )
                
                (1,003,934
                )
                
                (11,343,799
                )OTHER
                    INCOME (EXPENSE)Dividend
                    and interest income
                
                
                806
                
                
                3,421
                
                
                7,072
                
                
                10,341
                
                
                36,955Settlement
                    expense
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                (26,250
                )Loss
                    on disposition and impairment of assets
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                (105,861
                )Gain
                    (loss) on investment sales
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                (63,813
                )Financing
                    expense
                
                
                (142,092
                )
                
                (108,477
                )
                
                (572,848
                )
                
                (340,452
                )
                
                (3,887,611
                )Interest
                    expense
                
                
                (64,088
                )
                
                (63,201
                )
                
                (187,221
                )
                
                (208,602
                )
                
                (976,162
                )Other
                    income (loss)
                
                
                -
                
                
                1,585
                
                
                4,258
                
                
                1,418
                
                
                33,762Forgiveness
                    of debt
                
                
                -
                
                
                -
                
                
                -
                
                
                48,000
                
                
                677,961Total
                    Other Income (Expense)
                
                
                (205,374
                )
                
                (166,672
                )
                
                (748,739
                )
                
                (489,295
                )
                
                (4,311,019
                )LOSS
                    BEFORE INCOME TAXES
                
                
                (196,831
                )
                
                (488,242
                )
                
                (1,089,091
                )
                
                (1,493,229
                )
                
                (15,654,818
                )INCOME
                    TAXES
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                -NET
                    LOSS
                
                
                (196,831
                )
                
                (448,242
                )
                
                (1,089,091
                )
                
                (1,493,229
                )
                
                (15,654,818
                )OTHER
                    COMPREHENSIVE INCOMEUnrealized
                    gain on available for sale securities
                
                
                9,084
                
                
                10,735
                
                
                127,394
                
                
                17,534
                
                
                163,519COMPREHENSIVE
                    LOSS
                
                $
                (187,747
                )
                $
                (477,507
                )
                $
                (961,697
                )
                $
                (1,475,695
                )
                $
                (15,491,299
                )BASIC
                    AND DILUTED NET LOSS PER SHARE
                
                $
                (0.00
                )
                $
                (0.01
                )
                $
                (0.02
                )
                $
                (0.04
                )WEIGHTED
                    AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
                
                
                55,755,477
                
                
                44,703,056
                
                
                54,947,025
                
                
                41,188,522




The
      accompanying condensed notes are an integral part of these financial
      statements.




2




**TREND
        MINING COMPANY**
 **(An
        Exploration Stage Company)**
 **STATEMENT
        OF STOCKHOLDERS' EQUITY (DEFICIT)**
  Date
                
                Price
                
                Number
                    of Shares
                
                Number
                    of Options
                
                Number
                    of Warrants
                
                Common
                    Stock Amount
                
                Additional
                    Paid-in Capital
                
                Accumulated
                    Deficit
                
                Accumulated
                    Other Comprehensive Income (Loss)
                
                TotalBalance,
                    September 30, 2006
                
                
                
                
                
                
                
                
                48,975,804
                
                
                2,125,000
                
                
                19,513,175
                
                $
                489,758
                
                $
                12,909,764
                
                $
                (15,124,231
                )
                $
                36,125
                
                $
                (1,688,584
                )Common
                    Stock issued:-
                    for convertible debt and interest
                
                
                Various
                
                
                0.100
                
                
                5,730,438
                
                
                -
                
                
                -
                
                
                57,304
                
                
                511,975
                
                
                -
                
                
                -
                
                
                569,279-
                    for compensation
                
                
                10/31/2006
                
                
                0.100
                
                
                40,000
                
                
                -
                
                
                -
                
                
                400
                
                
                3,600
                
                
                -
                
                
                -
                
                
                4,000-
                    for convertible debt and interest
                
                
                12/1/2006
                
                
                0.084
                
                
                63,244
                
                
                -
                
                
                -
                
                
                632
                
                
                4,680
                
                
                -
                
                
                -
                
                
                5,312-
                    for convertible debt and interest
                
                
                12/1/2006
                
                
                .065
                
                
                250,531
                
                
                -
                
                
                -
                
                
                2,505
                
                
                12,338
                
                
                -
                
                
                -
                
                
                14,843-
                    for convertible debt and interest
                
                
                12/13/2006
                
                
                0.091
                
                
                204,807
                
                
                -
                
                
                -
                
                
                2,048
                
                
                16,630
                
                
                -
                
                
                -
                
                
                18,678-
                    for convertible debt and interest
                
                
                12/26/2006
                
                
                0.880
                
                
                59,925
                
                
                -
                
                
                -
                
                
                599
                
                
                4,674
                
                
                -
                
                
                -
                
                
                5,273-
                    for compensation
                
                
                12/26/2006
                
                
                0.140
                
                
                142,857
                
                
                -
                
                
                -
                
                
                1,429
                
                
                18,571
                
                
                -
                
                
                -
                
                
                20,000-
                    for compensation
                
                
                1/31/2007
                
                
                0.110
                
                
                59,925
                
                
                -
                
                
                -
                
                
                595
                
                
                4,640
                
                
                -
                
                
                -
                
                
                5,235-
                    for compensation
                
                
                3/1/2007
                
                
                0.112
                
                
                57,983
                
                
                -
                
                
                -
                
                
                580
                
                
                4,615
                
                
                -
                
                
                -
                
                
                5,195-
                    for compensation
                
                
                3/1/2007
                
                
                0.090
                
                
                61,113
                
                
                -
                
                
                -
                
                
                611
                
                
                4,865
                
                
                -
                
                
                -
                
                
                5,476-
                    for compensation
                
                
                Various
                
                
                0.080
                
                
                109,293
                
                
                -
                
                
                -
                
                
                1,093
                
                
                7,650
                
                
                -
                
                
                -
                
                
                8,743Compensation
                    costs recognized for options
                
                
                
                
                
                
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                5,845
                
                
                -
                
                
                -
                
                
                5,845Unrealized
                    change in market value of available for sale securities
                
                
                
                
                
                
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                127,394
                
                
                127,394Options
                    forfeited
                
                
                
                
                
                
                
                
                -
                
                
                (150,000
                )
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                -Net
                    loss
                
                
                
                
                
                
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                -
                
                
                (1,089,091
                )
                
                -
                
                
                (1,089,091
                )Balance,
                    June 30, 2007
                
                
                
                
                
                
                
                
                55,755,477
                
                
                1,975,000
                
                
                19,513,175
                
                $
                557,554
                
                $
                13,509,847
                
                $
                (16,213,322
                )
                $
                163,519
                
                $
                (1,982,402
                )


The
      accompanying condensed notes are an integral part of these financial
      statements.




3


**TREND
                MINING COMPANY**
              **(An
                Exploration Stage Company)**
              **STATEMENTS
                OF CASH FLOWS**




Period fromOctober 1, 1996(Inception ofNine Months
              Ended
            
            Nine Months
              Ended
            
            Exploration
              Stage)June 30, 2007
            
            June 30, 2006
            
            to June 30,(unaudited)
            
            (unaudited)
            
            2007 (unaudited)**CASH
                FLOWS FROM OPERATING ACTIVITIES:**Net
                loss
            
            $
            (1,089,091
            )
            $
            (1,493,229
            )
            $
            (15,654,818
            )Adjustments
                to reconcile net loss to net cash used by operating
                activities:Depreciation
            
            
            2,882
            
            
            2,086
            
            
            61,047Amortization
                of debt discount
            
            
            572,848
            
            
            325,431
            
            
            1,996,856Gain
                on forgiveness of debt
            
            
            -
            
            
            (48,000
            )
            
            (249,581
            )Loss
                on investment sales
            
            
            -
            
            
            -
            
            
            68,969Loss
                (gain) on disposition and impairment of assets
            
            
            -
            
            
            -
            
            
            105,861Interest
                expense forgiven by related parties
            
            
            -
            
            
            -
            
            
            20,848Common
                  stock issued for services and financing expenses
            
            
            20,000
            
            
            5,900
            
            
            1,285,171Common
                stock issued for payables and accrued expenses
            
            
            -
            
            
            -
            
            
            219,656Common
                stock and options issued as compensation
            
            
            9,845
            
            
            162,720
            
            
            1,288,340Stock
                  options and warrants issued or modified for financing
                  expense
            
            
            -
            
            
            15,000
            
            
            1,488,778Common
                stock issued for investments
            
            
            -
            
            
            -
            
            
            93,168Common
                  stock and warrants issued to acquire mineral property
                  options
            
            
            -
            
            
            -
            
            
            1,114,873Common
                stock issued for payment of interest
            
            
            362,198
            
            
            -
            
            
            513,926Stock
                options and warrants issued for consulting fees
            
            
            -
            
            
            14,768
            
            
            185,289Common
                stock issued for incentive fees
            
            
            -
            
            
            -
            
            
            21,544Investment
                traded for services
            
            
            -
            
            
            -
            
            
            45,939Changes
                in assets and liabilities:Prepaid
                expenses
            
            
            (9,000
            )
            
            8,494
            
            
            (5,195
            )Accounts
                receivable
            
            
            21,177
            
            
            (28,785
            )
            
            (56,614
            )Accounts
                payable
            
            
            (4,793
            )
            
            (202,890
            )
            
            265,973Accounts
                payable, related party
            
            
            -
            
            
            -
            
            
            15,000Accrued
                expenses
            
            
            29,532
            
            
            (19,185
            )
            
            (42,305
            )Reclamation
                bond
            
            
            7,720
            
            
            5,500
            
            
            -Interest
                payable
            
            
            (247,446
            )
            
            179,872
            
            
            51,042Net
                cash used by operating activities
            
            
            (324,128
            )
            
            (1,072,318
            )
            
            (7,166,233
            )**CASH
                FLOWS FROM INVESTING ACTIVITIES:**Proceeds
                from sale of equipment
            
            
            -
            
            
            -
            
            
            37,626Purchase
                of fixed assets
            
            
            -
            
            
            (807
            )
            
            (57,210
            )Proceeds
                from sale of mineral property
            
            
            -
            
            
            1,122,975
            
            
            1,142,975Costs
                of mining interest
            
            
            -
            
            
            -
            
            
            (1,053,170
            )Proceeds
                from investments sold
            
            
            -
            
            
            -
            
            
            183,161Net
                cash provided (used) by investing activities
            
            
            -
            
            
            1,122,168
            
            
            253,382**CASH
                FLOWS FROM FINANCING ACTIVITIES:**Payments
                on notes payable and short-term borrowings
            
            
            -
            
            
            (560,000
            )
            
            (692,336
            )Payments
                on convertible debt
            
            
            -
            
            
            -
            
            
            (472,629
            )Proceeds
                from internal securities sale
            
            
            -
            
            
            -
            
            
            210,194Proceeds
                from sale of warrants
            
            
            -
            
            
            -
            
            
            10,000Proceeds
                from notes payable and short-term borrowings
            
            
            -
            
            
            1,025,000
            
            
            1,111,300Proceeds
                from convertible debt
            
            
            -
            
            
            -
            
            
            4,035,857Proceeds
                  from sale of common stock and exercise of options
            
            
            -
            
            
            150,000
            
            
            2,843,151Financing
                fees
            
            
            -
            
            
            (95,750
            )
            
            (293,341
            )Issuance
                of penalty shares
            
            
            -
            
            
            -
            
            
            223,600




4




**TREND
                  MINING COMPANY**
                **(An
                  Exploration Stage Company)**
                **STATEMENTS
                  OF CASH FLOWS**
  Period fromOctober 1, 1996(Inception ofNine Months
                      Ended
                    
                    Nine Months
                      Ended
                    
                    Exploration
                      Stage)June 30, 2007
                    
                    June 30, 2006
                    
                    to June 30,(unaudited)
                    
                    (unaudited)
                    
                    2007 (unaudited)Net
                        cash provided by financing activities
                    
                    
                    -
                    
                    
                    519,250
                    
                    
                    6,975,796**NET
                        INCREASE (DECREASE) IN CASH**
                    
                    
                    (324,128
                    )
                    
                    569,100
                    
                    
                    62,975**CASH,
                        BEGINNING OF PERIOD**
                    
                    
                    390,680
                    
                    
                    64,391
                    
                    
                    3,607**CASH,
                        END OF PERIOD**
                    
                    $
                    66,552
                    
                    $
                    633,491
                    
                    $
                    66,552**SUPPLEMENTAL
                        CASH FLOW INFORMATION:**Interest
                        paid
                    
                    $
                    60,266
                    
                    $
                    28,730
                    
                    $
                    260,433Income
                        taxes paid
                    
                    $
                    -
                    
                    $
                    -
                    
                    $
                    -**NON-CASH
                        FINANCING AND INVESTING ACTIVITIES:**Common
                          stock and warrants issued to acquire mineral
                          properties
                    
                    $
                    -
                    
                    $
                    -
                    
                    $
                    1,189,873Common
                          stock issued for acquisition of mining equipment
                    
                    $
                    -
                    
                    $
                    -
                    
                    $
                    180,000Common
                        stock issued for investment
                    
                    $
                    -
                    
                    $
                    -
                    
                    $
                    185,168Common
                        stock issued for financing fees
                    
                    $
                    -
                    
                    $
                    -
                    
                    $
                    45,000Common
                        stock issued for payment of convertible debt
                    
                    $
                    275,836
                    
                    $
                    134,064
                    
                    $
                    1,059,935Beneficial
                        conversion rights
                    
                    $
                    -
                    
                    $
                    631,202
                    
                    $
                    1,081,260Deferred
                        acquisition costs on mining property
                    
                    $
                    -
                    
                    $
                    -
                    
                    $
                    46,242Purchase
                        of equipment with financing agreement
                    
                    $
                    -
                    
                    $
                    -
                    
                    $
                    21,814Investments
                        received for mineral property
                    
                    $
                    -
                    
                    $
                    -
                    
                    $
                    5,500Investments
                        received for accounts receivable
                    
                    $
                    -
                    
                    $
                    -
                    
                    $
                    42,500Equipment
                        for loans payable
                    
                    $
                    -
                    
                    $
                    -
                    
                    $
                    4,500






The
      accompanying condensed notes are an integral part of these financial
      statements.




5


**TREND
        MINING COMPANY**
 **(AN
        EXPLORATION STAGE COMPANY)**
 **NOTES
        TO THE FINANCIAL STATEMENTS**


**NOTE
      1 - ORGANIZATION AND DESCRIPTION OF BUSINESS**





Trend
      Mining Company (formerly Silver Trend Mining Company) (“the Company” or “Trend”)
      was incorporated on September 7, 1968 under the laws of the State of Montana
      for
      the purpose of acquiring, exploring and developing mining properties. From
      1984
      to late 1996, the Company was dormant. In November 1998, the Company changed
      its
      focus to exploration for platinum and palladium related metals primarily in
      the
      United States. In 2004, the Company further diversified into uranium properties.
      The Company directs its operations primarily from its office in Hilton Head,
      SC.
      The Company has one production stage royalty interest. All of the Company’s
      other mineral properties are in the exploration stage. The Company is not
      conducting development or mining operations at this time. The Company has a
      September 30 fiscal year-end.





**NOTE
      2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**





The
      accompanying unaudited financial statements have been prepared in accordance
      with generally accepted accounting principles for interim financial information
      and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly,
      they do not include all of the information and footnotes required by generally
      accepted accounting principles for annual financial statements. Therefore,
      these
      interim unaudited financial statements should be read in conjunction with the
      Company’s audited annual financial statements and notes included in Form 10-KSB
      for the year ended September 30, 2006.





In
      the
      opinion of management, the accompanying unaudited financial statements contain
      all adjustments (which are of a normal recurring nature) necessary for a fair
      presentation of our financial position, results of operations and cash flows
      for
      the periods presented.





Operating
      results for the three and nine months ended June 30, 2007, are not necessarily
      indicative of the results that may be expected for the fiscal year ending
      September 30, 2007.





Exploration
      Stage Activities and Exploration Costs


The
      Company has been in the exploration stage since October 1, 1996, when the
      Company emerged from a period of dormancy. The Company is primarily engaged
      in
      the acquisition and exploration of mineral properties. The Company expenses
      exploration costs as incurred. Should the Company locate a commercially viable
      reserve, the Company would expect to actively prepare the site for
      extraction.





Going
      Concern


As
      shown
      in the accompanying financial statements, at June 30, 2007, the Company has
      limited cash, has negative working capital, incurred a net loss of $1,089,091
      for the nine months then ended, and has an exploration stage accumulated deficit
      of $15,654,818. These factors indicate that the Company may be unable to
      continue in existence in the absence of receiving additional funding. The
      financial statements do not include any adjustments related to the
      recoverability and classification of recorded assets, or the amounts and
      classification of liabilities that might be necessary in the event the Company
      cannot continue in existence.





The
      Company estimates that approximately $180,000 is required to fund operations
      of
      the Company for the next 12 months assuming minimal exploration activities,
      or
      $810,000 if the Company wishes to retain its interest at the Stillwater project.
      Additional cash will be required if the Company has to service its convertible
      debt with cash in lieu of stock. The Company’s management believes that it will
      be able to generate sufficient cash from public or private debt or equity
      financing in order for the Company to continue to operate based on current
      expense projections.


6


**TREND
        MINING COMPANY**
 **(AN
        EXPLORATION STAGE COMPANY)**
 **NOTES
        TO THE FINANCIAL STATEMENTS**


Mineral
      Properties


The
      Company capitalizes amounts paid in cash or stock as consideration for the
      acquisition of real property, including patented mining claims and royalty
      interests. See Note 3. Acquired properties are recorded at fair value negotiated
      in arm’s length transactions. Costs and fees paid to locate and maintain
      unpatented mining claims, to acquire options to purchase claims or properties,
      and to maintain the mineral rights and leases, are expensed as incurred.





Mineral
      properties are periodically assessed for impairment of value and any diminution
      in value is charged to operations at the time of impairment. Should a property
      be abandoned, its unamortized capitalized costs are charged to operations.
      The
      Company charges to operations the allocable portion of capitalized costs
      attributable to properties sold. Capitalized costs are allocated to properties
      abandoned or sold based on the proportion of claims abandoned or sold to the
      claims remaining within the project area.





Stock
      Issued for Other Than Cash


The
      Company values unrestricted common stock granted to employees for services,
      property, or investments at the fair value of the common stock determined as
      the
      closing price of stock on the day of issuance. If no trading occurred on a
      date
      of issuance, then the fair value used is the lower of the closing prices on
      the
      first previous day or the first following day on which the Company’s stock was
      traded. Common stock granted to non-employees is valued at the fair value of
      the
      stock or the fair value of the consideration received, whichever is more
      reliably measured. The Company may issue common stock with certain restrictions
      placed upon the trading thereof. In these circumstances the shares are valued
      at
      a reasonable discount to the closing stock price. These stock issuances are
      accounted for as expenses, if the stock was issued for services or exploration
      costs, and as assets, if the stock was issued for investments or real
      property.





Reclassification




Certain
      accounts in prior period financial statements have been reclassified for
      comparative purposes to conform with the presentation in the current period
      financial statements.





**NOTE
      3 - MINERAL PROPERTIES**





At
      June
      30, 2007, the Company has an interest in one production stage mineral property,
      no development stage properties, and six exploration stage properties. The
      following describes each of these mineral properties.





Andacollo
      Mine, Chile


During
      the fourth quarter of fiscal 2005, Trend entered into negotiations to purchase
      100% of the issued shares of capital stock in DMC Cayman, Inc., a Cayman Islands
      company (“DMC Cayman”). DMC Cayman indirectly owned 100% of the issued shares of
      capital stock of Compania Minera Dayton S.A., a Chilean corporation (“CMD”),
      that owns and operates the Andacollo gold mine in Chile. On September 20, 2005,
      Trend received funding for the acquisition through a separate group of
      investors, based on a commitment from Trend to transfer to the investor group
      70% of the shares of DMC Cayman.





The
      Company paid an initial $900,000 in cash for the acquisition. The Company also
      paid out additional related expenses for which it was to be repaid 70% by the
      other investors. Before the end of the year, the investor group bought Trend’s
      30% stake in exchange for cash of $1,122,975, a 1% net smelter returns royalty,
      and a 30% back-in right exercisable through April 1, 2006. As a result of this
      transaction, the Company recognized a gain of $69,804 at September 30, 2005,
      and
      it retained a 1% net smelter returns royalty. The Company received the cash
      portion of the purchase price during the quarter ended December 31, 2005. The
      Company did not exercise the 30% back-in right.


7




**TREND
          MINING COMPANY**
 **(AN
          EXPLORATION STAGE COMPANY)**
 **NOTES
          TO THE FINANCIAL STATEMENTS**
  
 The
          final
          operating permits for the mine were obtained on December 27, 2005, and
          it became
          fully operational during the third quarter of fiscal 2006. Trend is
          contractually entitled to receive 1% of gold revenues from the mine in
          monthly
          installments, subject to a 35% Chilean withholding tax.





However,
      the Company was notified by the owners of the Andacollo Gold Mine Project that
      they challenged the rights of the Company to continue to receive royalties.
      The
      owners ceased paying the royalties after December 31, 2006 and informed the
      Company that they do not intend to pay further royalties. The Company is
      vigorously contesting the position taken by the owners and is considering all
      its options in defending its contractual rights to receive royalties. The
      Company has not received any royalties in 2007, and pending resolution of the
      dispute, has not accrued a receivable for any such royalties.





Diabase
      Peninsula, Cree Lake Area, Saskatchewan, Canada


On
      September 15, 2004, the Company diversified into uranium exploration with the
      staking of a mining claim comprising approximately 940 hectares (approximately
      4
      square miles) at Cree Lake in the Athabasca Basin of Saskatchewan.





In
      October 2004, the Company signed an option to purchase an additional mining
      claim at Cree Lake which covers 1681 hectares (approximately 6.5 square miles)
      and is located immediately adjacent to, and southwest of, the first Cree Lake
      claim. This option agreement is referred to herein as the Diabase Peninsula
      Lease.





Terms
      of
      the Diabase Peninsula Lease require Trend to maintain the claim group in good
      standing by performing a minimum of approximately CDN $20,172 worth of field
      work per year. In addition, payments to the lessor of CDN $15,000, $20,000,
      and
      $30,000, respectively, were made in each of the first three years. Trend has
      an
      option to purchase the claims for CDN $11 million any time through September
      2012, at which time the property remains subject to a 3% gross royalty on any
      and all minerals produced.





Subsequent
      to the acquisition of the Diabase Peninsula Lease, Trend staked one more claim
      on the southwestern edge of the lease for an additional 1603 hectares (6.2
      square miles), such that the aggregate area of Trend’s uranium claims in the
      Athabasca Basin totals 4224 hectares (16.7 square miles).





In
      December 2004, Trend announced that it and Nuinsco Resources Limited (“Nuinsco”)
      signed a Letter of Intent to form a 50-50 joint venture to own, operate and
      explore the three Cree Lake/Diabase Peninsula claims. Pursuant to the Letter
      of
      Intent Nuinsco conducted, at its expense, an exploration program consisting
      of
      geophysical surveys and geochemical sampling followed by drilling. A definitive
      joint venture agreement was executed on September 29, 2005. Under the terms
      of
      the joint venture agreement, Nuinsco must maintain all three claims in good
      standing, including the performance of the minimum annual filed work required
      by
      the Diabase Peninsula Lease, and will earn a 50% interest in the claims upon
      spending CDN $1 million prior to December of 2007. The spending requirement
      was
      satisfied in May of 2006, and accordingly, Trend and Nuinsco became 50-50 owners
      of the claims at that time. Since then, Trend has declined to fund its 50%
      share
      of continuing exploration expenditures and as a result, the Company’s ownership
      had been diluted to approximately 30% as of September 30, 2006. In the future,
      if Nuinsco takes the project into the development stage, Trend will have a
      one
      time opportunity to regain its 50% interest by repaying the expenditures it
      otherwise would have made plus paying a 40% **** penalty.





Additionally,
      to offset Trend’s payments made to the lessor, and per terms of the agreement
      with Nuinsco, during the quarter ended June 30, 2006, Nuinsco granted to the
      Company 212,500 freely trading shares of Nuinsco common stock.





Stillwater
      Complex, Montana


Effective
      January 1, 2005, Trend entered into an agreement with Aurora Metals Limited
      (“Aurora”) that provides that Trend will explore for platinum group and base
      metals on portions of Aurora claims known as the “Stillwater Intrusive Complex”
in Montana. Trend will be the operator during the exploration stage and will
      earn 50% in the project by fulfilling work commitments to spend $2 million
      on
      qualified exploration expenditures over the ensuing 5 years. Additionally,
      Trend
      issued 50,000 shares of its common stock to Aurora on commencement of the
      agreement. Further, Trend issued 20,000 shares and paid $20,000 on the first
      anniversary of the agreement, issued 142,857 shares on the second anniversary
      of
      the agreement, and must pay $20,000 in cash or stock each year thereafter until
      it has spent the agreed upon sum of $2 million, at which time a 50-50 joint
      venture will be formed.


8


**TREND
        MINING COMPANY**
 **(AN
        EXPLORATION STAGE COMPANY)**
 **NOTES
        TO THE FINANCIAL STATEMENTS**


The
      cumulative work commitment required by the agreement is $500,000 during the
      first two year period ending December 31, 2006. Thereafter, work commitments
      total $500,000 per year for three additional years. Through December 31, 2006,
      the Company had spent approximately $400,472 on qualified exploration
      expenditures. The Company was unable to complete its work commitment for 2006
      due to forest fires which closed the National Forest. The Company notified
      Aurora of a Force Majeure situation and will need to spend, subject to final
      accounting, approximately $630,000 during 2007 to maintain the agreement in
      force.





Lake
      Owen Claims, Wyoming


In
      September 1999, the Company entered into an agreement with General Minerals
      Corporation (“GMC”) to acquire a platinum group metals and magnetite property
      located in Albany County, Wyoming. Pursuant to the agreement, the Company
      received 104 unpatented mining claims, the Lake Owen claims, in exchange for
      715,996 shares of common stock, $40,000 in cash and $750,000 in exploration
      expenditure commitments to be incurred over a three-year option period. In
      May
      2000, the Company issued an additional 129,938 shares of common stock under
      this
      agreement.





In
      June
      2000, the Company and GMC entered into an amendment to the agreement under
      which
      (i) the Company issued 416,961 shares of common stock to GMC upon GMC’s
      exercise of preemptive rights, (ii) the Company performed an additional
      $15,000 of geophysical work prior to December 31, 2000 (subsequently
      modified), (iii) the Company issued 200,000 additional shares and warrants
      exercisable until June 2002 to purchase 200,000 shares at $0.70 per share,
      and
      (iv) GMC agreed to terminate its anti-dilution and preemptive rights as
      provided in the original agreement. The 200,000 warrants expired.





In
      March
      2002, the Company issued 1,100,000 shares, valued at $770,000 in full
      satisfaction of cash commitments relating to exploration activities. The
      issuance of these shares resulted in the full ownership of the Lake Owen claims
      by Trend Mining Company.





In
      1999-2000, the Company staked additional claims at Lake Owen and an adjoining
      area, Albany West, and now holds 601 unpatented mining claims at the Lake Owen
      area.





In
      August, 2005, the Company commenced exploration of this property with ground
      magnetic surveys. Effective June 1, 2006, the Company leased the 601 claims
      to
      RMP Resources Corp., a private company. The lease requires RMP to pay Trend
      advance royalties of $35,000 annually. The lease also requires RMP to incur
      exploration expenditures of $200,000 through June 1, 2007, $350,000 during
      the
      following year, and $500,000 annually thereafter. Upon the cumulative
      expenditure of $5 million, RMP will acquire the property and will owe a 3%
      net
      smelter returns royalty to Trend.





Peter
      Lake, Saskatchewan, Canada


The
      Company holds mining claims in the Peter Lake Domain of northern Saskatchewan.
      The Peter Lake Domain is recognized to host known occurrences of copper-nickel
      and platinum-palladium mineralization.





In
      August
      2000, the Company staked five claims. In 2002, the Company allowed these claims
      to lapse and subsequently restaked them plus one additional claim. In October
      of
      2004 the Company expanded the Peter Lake Project by acquiring 3 claims near
      Ant
      Lake, Swan Lake, and Seahorse Lake. Five of the six 2002 claims lapsed, but
      in
      2005 the Company staked four new claims. In March of 2006, the Company allowed
      the remaining 2002 claim to lapse, such that the Company held seven claims
      for a
      total of 14,781 hectares (57 square miles).


9


**TREND
          MINING COMPANY**
 **(AN
          EXPLORATION STAGE COMPANY)**
 **NOTES
          TO THE FINANCIAL STATEMENTS**


In
      August
      2004, the Company began exploration of this property. During the summer of
      2005,
      the Company executed a broad reconnaissance program to search for extractable
      concentrations of minerals.





The
      Company has allowed four of its seven claims on this project to lapse as of
      August, 2007. The Company will be required to spend approximately CDN$58,000
      prior to January, 2008 to retain the remaining three claims. The Company is
      seeking a joint venture partner due to the high expense of operating in the
      high
      Canadian latitudes. If the Company is unable to find a suitable joint venture
      partner it will likely allow these remaining claims to lapse.





Pyramid
      Claims, Nevada


The
      Company retains a 1.5% net smelter returns royalty interest in the Pyramid
      project, which consists of five unpatented lode mining claims within the Walker
      Indian Reservation near Fallon, Nevada. The claims are owned by Consolidated
      Goldfields Corporation (OTC: CDGF) which has offices in Reno, Nevada and has
      recently conducted underground and surface sampling at the project. The results
      of this sampling have been issued as press releases by CDGF and appear
      favorable. Interested parties are encouraged to review these results as posted
      on the internet.





Rae-Wallace
      Claims


The
      Company retains a 2.5% net smelter returns royalty on four patented mining
      claims located north of Anchorage, Alaska, that are owned by the Rae-Wallace
      Company, a former subsidiary. Trend does not anticipate any activity being
      conducted on these claims in the foreseeable future.





**NOTE
      4 - CONVERTIBLE DEBT**





The
      Company’s convertible debt at June 30, 207 and September 30, 2006 consists of
      the following:





June 30,
              2007
            
            September 30,
              20062001/2002
                Convertible Debt:
              Notes
                payable, interest at 8% payable monthly,due
                August 17, 2008
            
            $
            940,638
            
            $
            940,6382005
                Convertible Debt:
              Notes
                payable at prime plus 3% (11.25% at September 30,2006)
                but not less than 10%, due January 28, 2008,principal
                and interest payable monthly
            
            
            753,471
            
            
            885,4902006
                Convertible Debt:
              Notes
                payable, interest at 10%, due June 13, 2009,principal
                and interest payable monthly beginningOctober
                2006
            
            
            868,978
            
            
            1,025,000Subtotal
            
            
            2,563,087
            
            
            2,851,128Unamortized
                discounts
            
            
            (565,812
            )
            
            (1,138,662
            )Total
            
            
            1,997,275
            
            
            1,712,466Less
                current maturities
            
            
            (732,362
            )
            
            (215,259
            )Convertible
                debt, net of current portion
            
            $
            1,264,913
            
            $
            1,497,207




10


**TREND
          MINING COMPANY**
 **(AN
          EXPLORATION STAGE COMPANY)**
 **NOTES
          TO THE FINANCIAL STATEMENTS**


Additional
      information regarding the Company’s convertible debt is as follows:





2001/2002
      Convertible Debt


During
      the years ended September 30, 2001 and 2002, the Company completed private
      placements of convertible promissory notes in the amount of $1,032,857. The
      Company also issued warrants with the promissory notes. Subsequently, certain
      terms of both the notes and the warrants were modified. The warrants, as
      modified, allow for the purchase of up to 7,063,174 shares of the Company’s
      common stock. See Note 5 for additional information regarding
      warrants.





The
      promissory notes, as modified, are convertible into Units at a rate of one
      Unit
      for each $0.21 of principal outstanding. Each Unit consists of one share and
      one
      warrant with the warrant being exercisable for a period of five years from
      the
      date of conversion at a price of $0.25 per share.





2005
      Convertible Debt


During
      the year ended September 30, 2005, the Company completed private placements
      of
      convertible promissory notes in the amount of $1,800,000. Required monthly
      payments of principal and interest may be made in cash or in shares of the
      Company’s common stock. On December 6, 2005, the conversion rate of the debt was
      changed by operation of a clause in the note agreements that automatically
      reduced the conversion rate upon the sale by the Company of common stock at
      a
      price lower than the existing conversion rate of the notes. Therefore, at any
      time prior to maturity, the promissory notes are convertible into shares of
      the
      Company’s common stock at a rate of one share for each $0.10 of principal and
      interest outstanding. Additionally, the Company issued two series of warrants
      (Class A and Class B) with the promissory notes. The Class A warrants allow
      for
      the purchase of up to 2,400,000 shares of the Company’s common stock and Class B
      warrants allowed for the purchase of up to 3,000,000 shares of common
      stock.





In
      relation to the convertible debt, the Company paid finders fees in the form
      of
      approximately $214,000 in cash and the issuance of Class A and Class B warrants.
      The Class A warrants allow for the purchase of up to 825,001 shares of the
      Company’s common stock and Class B warrants allowed for the purchase of up to
      825,001 shares of common stock.





At
      issuance, the value of all the warrants and the beneficial conversions rights
      was $1,089,596 which was recorded on the balance sheet as a debt discount and
      additional paid-in capital. The warrants, beneficial conversion rights and
      finders fees are being amortized over the 3 year term of the convertible debt
      and the amortized amounts are included in financing expense in the financial
      statements.





During
      the year ended September 30, 2006, the exercise price of the Class A warrants
      was modified and all of the Class B warrants expired. See Note 5 for additional
      information regarding warrants.





2006
      Convertible Debt


During
      the year ended September 30, 2006, the Company completed private placements
      of
      convertible promissory notes in the amount of $1,025,000. Required monthly
      payments of principal and interest may be made in cash or in shares of the
      Company’s common stock. At any time prior to maturity, the promissory notes are
      convertible into shares of the Company’s common stock at a rate of one share for
      each $0.10 of principal and interest outstanding. Additionally, the Company
      issued two series of warrants (Class A and Class B) with the promissory notes.
      The Class A warrants allow for the purchase of up to 4,100,000 shares of the
      Company’s common stock and Class B warrants allow for the purchase of up to
      5,125,000 shares of common stock. See Note 5 for additional information
      regarding warrants.


11


**TREND
        MINING COMPANY**
 **(AN
        EXPLORATION STAGE COMPANY)**
 **NOTES
        TO THE FINANCIAL STATEMENTS**


In
      relation to the convertible debt, three shareholders were paid commissions
      totaling $133,500. The commissions were paid in the form of $23,750 in cash,
      issuance of 375,000 common shares valued at $37,500, and a $72,000 reduction
      of
      the balance of a promissory note.





At
      issuance, the value of all the warrants and the beneficial conversions rights
      was $891,750 which was recorded on the balance sheet as a debt discount and
      additional paid-in capital. The warrants, beneficial conversion rights and
      commissions are being amortized over the 3 year term of the convertible debt
      and
      the amortized amounts are included in financing expense in the financial
      statements.





**NOTE
      5 - WARRANTS AND OPTIONS**





The
      Company has issued warrants that enable the holder to purchase a stated number
      of shares of common stock at a certain price within a certain time period.
      Warrants have been issued in connection with a 1999 stock purchase agreement
      and
      in connection with the convertible debt discussed in Note 4.





Following
      is a summary of warrants outstanding at June 30, 2007:





Number of
              Warrants
            
            Strike Price
            
            Expiration
              Date2,383,333
            
            $
            0.10
            
            1/27/2010200,000
            
            $
            0.10
            
            3/22/2010641,668
            
            $
            0.10
            
            7/28/20104,100,000
            
            $
            0.17
            
            6/13/20116,464,761
            
            $
            0.25
            
            9/30/2011150,000
            
            $
            0.25
            
            1/31/2012113,413
            
            $
            0.25
            
            6/27/2012335,000
            
            $
            0.25
            
            9/30/20125,125,000
            
            $
            0.25
            
            *19,513,175




*
      expire
      120 days after the effective date of a registration statement registering the
      shares issuable upon exercise of the warrants.





On
      February 23, 2001, the Company’s shareholders approved the adoption of the 2000
      Equity Incentive Plan and the reservation of 5,000,000 shares of common stock
      for distribution under the plan. On April 19, 2006, the plan was amended to
      increase the number of reserved shares to 8,000,000. These shares and options
      to
      acquire those shares may be granted to the Company’s employees, directors and
      consultants. Under the plan, through December 31, 2006, 1,800,000 shares have
      been granted as directors fees. In addition, various options have been granted
      to officers, directors and consultants.




12


**TREND
          MINING COMPANY**
 **(AN
          EXPLORATION STAGE COMPANY)**
 **NOTES
          TO THE FINANCIAL STATEMENTS**
  
 The
        following is a summary of stock option activity under the 2000 Equity Incentive
        Plan for the nine months ended June 30, 2007:





Number of
              Shares
            
            Weighted
              Average
              Exercise PriceOutstanding
                at September 30, 2006
            
            
            2,125,000
            
            $
            0.33Granted
            
            
            —
            
            
            —Exercised
            
            
            —
            
            
            —Forfeited
            
            
            (150,000
            )
            
            0.30Outstanding
                at June 30, 2007
            
            
            1,975,000
            
            $
            0.33Exercisable
                at June 30, 2007
            
            
            1,975,000
            
            $
            0.33





**NOTE
      6 - RELATED PARTY TRANSACTIONS**





On
      behalf
      of the Company, in March 2005, an officer personally paid $15,000 owed to an
      outside consultant. The Company has recorded that amount in “accounts payable,
      related parties”, in the financial statements.





**NOTE
      7 - COMMITMENTS AND CONTINGENCIES**





Mineral
      Properties


Four
      of
      the Company’s mining claims at Peter Lake in Saskatchewan, Canada lapsed in
      August 2007, and the remaining three claims will lapse in January 2008. In
      order
      to retain the remaining claims, the Company must fulfill exploration commitments
      prior to the lapse date of CDN$58,000. It is unlikely that the Company will
      fulfill this obligation due to its lack of finances and the remote exploration
      requirements of the property.





To
      maintain its interest in the Stillwater property, the Company must fulfill
      exploration commitments of approximately $624,000 by December 31, 2007 and
      $500,000 in each of the following two years. Alternatively, the Company can
      make
      payments in cash to Aurora Metals to fulfill these obligations.





All
      commitments to maintain the Company’s Cree Lake claims are being fulfilled by
      the Company’s joint venture partner. All commitments to maintain the Company’s
      the Lake Owen claims are being fulfilled by the lessee of the
      claims.





The
      Company’s interest in the Andacollo mine, Pyramid claims, and Rae-Wallace claims
      are all perpetual royalties requiring no future commitments.





Employment
      Agreements


The
      Company has an employment agreement with Mr. John Ryan, the chief financial
      officer, secretary and treasurer, whereby Mr. Ryan receives a salary of $4,000
      per month. The agreement may be terminated by either party with 30 days notice.
      If the Company is unable to pay the salary in cash, then Mr. Ryan has the option
      to receive $4,000 worth of the Company’s common stock at the prevailing rate of
      which shares are or were most recently sold by the Company. As of June 30,
      2007,
      $32,000 of back salary is payable to Mr. Ryan and is recorded on the balance
      sheet as accrued expenses, related party.





Legal
      Proceedings


In
      May,
      2002, one of the Company’s vendors obtained a judgment to collect $18,574 due
      under a rental lease agreement for office space the Company chose to vacate.
      The
      judgment bears interest at 18% until paid in full. Included in the accounts
      payable balance as of June 30, 2007 is $42,971 related to this judgment.




13


**ITEM
      2.**  **MANAGEMENT’S
      DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.**




*Cautionary
      Statement for Purposes of the “Safe Harbor” Provisions of the Private Securities
      Litigation Reform Act of 1995. This section contains forward looking statements.
      Forward looking statements are only expressions of Trend’s present expectations
      and intentions. Forward looking statements are not guaranteed to occur and
      they
      may not occur. You should not place undue reliance upon forward looking
      statements. You should read these cautionary statements as being applicable
      to
      all forward looking statements wherever they appear. Trend assumes no obligation
      to update the forward looking statements or the reasons why actual results
      could
      differ from those projected in the forward looking statements to reflect events
      or circumstances after the date hereof.*





**OVERVIEW**


Trend
      is
      a diversified minerals company engaged in exploration for base and precious
      metals. Trend’s properties include its royalty interest in the producing
      Andacollo gold mine in Chile, the advanced stage Mouat nickel-copper deposit
      in
      Montana, and a portfolio of uranium, PGM, and base metal exploration projects
      in
      the United States and Canada. As an exploration company, Trend’s major
      expenditures consist of payment of governmental fees to maintain the priority
      of
      Trend’s unpatented mining claims, payment of Trend’s debt service, payment of
      accounting and legal fees, and general office expenses, the aggregate of which
      typically outweigh monies spent on exploration programs. Until the Company
      or
      one of its partners advances one of Trend’s interests to the point where it
      generates substantial revenues, Trend will continue to need to raise funds
      in
      the financial markets to fund its ongoing exploration efforts. To that end,
      Trend’s principal vehicles for attracting new equity capital are its advanced
      stage nickel-copper deposit at Stillwater, Montana - where Trend is the
      operator, and its stake in an unconformity-type uranium play in the Athabasca
      Basin of Saskatchewan, where recent exploration results have been fairly
      positive and Trend’s operating partner has announced a major drilling program
      for 2007.





Our
      principal mineral property interests are set forth below:


*Property*
              
              *Commodity*
              
              *Status*
              
              *TRDM
                  interest**Andacollo,
                  Chile*
              
              *Gold*
              
              *Producing*
              
              *1%
                  NSR royalty**Stillwater,
                  Montana*
              
              *Ni,
                  Cu, PGMs*
              
              *Advanced
                  exploration*
              
              *Option
                  to own 50%**Diabase
                  Peninsula, Saskatchewan*
              
              *Uranium*
              
              *Exploration*
              
              *Variable
                  right to own up to 50%**Lake
                  Owen, Wyoming*
              
              *PGMs,
                  Fe, Ti, V*
              
              *Exploration*
              
              *100%
                  but leased to RMP Resources**Peter
                  Lake, Saskatchewan*
              
              *PGMs,
                  Cu, Au*
              
              *Exploration*
              
              *100%*




Trend
      has
      been notified by the owners of the Andacolla Gold Mine Project located in Chile
      that they were challenging the rights of Trend to continue to receive royalties.
      The owners ceased paying the royalties and informed Trend that they do not
      intend to pay further royalties. Trend intends to vigorously contest the
      position taken by the owners and is presently evaluating the potential cost
      of
      defending its contractual rights to receive royalties. Trend did not receive
      any
      royalties during the quarter ended June 30, 2007, and pending resolution of
      the
      dispute, has not accrued a receivable for any such royalties.





14




**RESULTS
      OF OPERATIONS**





**Comparison
      of three months ended June 30, 2007 to three months ended June 30,
      2006**





We
      recorded a comprehensive loss of $187,747, or $0.00 per share, on revenues
      of
      $35,000 in the three months ended June 30, 2007. This compares to a
      comprehensive loss of $477,507, or $0.01 per share in the same period of 2006
      when there were revenues of $71,846.





During
      each of the quarters ended June 30, 2007 and 2006, we received $35,000 of
      advance royalties related to our lease of the Lake Owen property.




We
      received revenue from our 1% Net Smelter Returns royalty interest in the
      Andacollo gold mine in Chile during the period from the quarter ended June
      30,
      2006 through the quarter ended December 31, 2006. The Company did not receive
      any royalties during the quarter ended June 30, 2007, and cannot anticipate
      receiving any future royalties until our dispute with the mine owners is
      resolved.





Exploration
      expenses were $102 in the three months ended June 30, 2007 as compared to
      $22,378 in 2006. Activity during the period in 2006 was primarily related to
      the
      exploratory drilling program at Stillwater.





General
      and Administrative expenses were $(8,914) in 2007 as compared to $98,376 in
      2006.





Officers
      and directors compensation was $12,000 for the quarter ended June 30, 2007
      as
      compared to $109,220 in the same period of 2006. The lower 2007 amount was
      primarily due to the January 31, 2007 resignation of Thomas Loucks, our then
      President and CEO.





Legal
      and
      professional fees were $22,530 in 2007 compared to $162,765 in 2006. This
      decrease was because of less activity regarding the filing of registration
      statements and property acquisition activity.





Dividend
      and interest income of $806 was slightly lower due to lower money market
      interest earned in 2007 on lower cash balances as compared to 2006.





Financing
      expense is a non-cash item for the amortization of discounts related to our
      convertible debt. The discounts relate to beneficial conversion rights,
      warrants, and other financing costs. Interest expense charges of $64,088 in
      2007
      compared to $63,201 in 2006.




Trend
      recognized an unrealized gain on available for sale securities of $9,084 and
      $10,735 for the quarters ended June 30, 2007 and 2006, respectively. This
      unrealized gain represents market appreciation of Trend’s investment in two
      Canadian entities, Nuinsco Resources Limited and Victory Nickel,
      Inc.





The
      loss
      of $187,747 in the quarter ended June 30, 2007 is compared to the loss of
      $477,507 in the same period of 2006. The decrease was primarily due to the
      reduced expenses discussed above.





**Comparison
      of nine months ended June 30, 2007 to nine months ended June 30,
      2006**





We
      recorded a comprehensive loss of $961,697, or $0.02 per share, on revenues
      of
      $126,268 in the nine months ended June 30, 2007. This compares to a
      comprehensive loss of $1,475,695, or $0.04 per share in the same period of
      2006
      when there were revenues of $71,846.





Royalty
      revenue was $126,268 for the nine months ended June 30, 2007 as compared to
      $71,846 in the same period of 2006. The higher 2007 amount is due to a longer
      period of receipts from our Andacollo royalty. We received revenue from our
      1%
      Net Smelter Returns royalty interest in the Andacollo gold mine in Chile during
      the period from the quarter ended June 30, 2006 through the quarter ended
      December 31, 2006. We cannot anticipate receiving any future royalties until
      our
      dispute with the mine owners is resolved.





Exploration
      expenses were $42,029 in the nine months ended June 30, 2007 as compared to
      $66,869 in the same period in 2006. General and Administrative expenses were
      $150,160 in the nine months ended 2007 as compared to $228,676 in 2006. The
      lower amounts in 2007 are primarily due to an overall reduction in
      activity.





15




Officers
      and directors compensation was $93,303 for the nine months ended June 30, 2007
      as compared to $294,658 in the same period of 2006. The lower 2007 amount was
      primarily due to the January 31, 2007 resignation of Thomas Loucks, our then
      President and CEO.





Legal
      and
      professional fees were $178,246 in 2007 compared to $483,491 in 2006. This
      decrease was because of less activity regarding the filing of registration
      statements and property acquisition activity.





Dividend
      and interest income of $7,072 was slightly lower due to lower money market
      interest earned in 2007 on lower cash balances as compared to 2006.





Financing
      expense is a non-cash item for the amortization of discounts related to our
      convertible debt. The discounts relate to beneficial conversion rights,
      warrants, and other financing costs. These expenses were $572,848 in 2007 as
      compared to $340,452 in 2006. The increase related to the effects of resetting
      the strike prices on various warrant instruments as the Company conducted
      financings at lower prices. Interest expense charges of $187,221 in the nine
      months period of 2007 compared to $208,602 in the same period of 2006 were
      slightly lower due to a reduction in the overall corporate debt.





**LIQUIDITY
      & CAPITAL RESOURCES**





***Liquidity:***





We
      currently have no regular source of cash receipts due to the dispute regarding
      our Andacollo royalty that was discussed in the overview above. Should that
      dispute be resolved in our favor, we would expect cash receipts of approximately
      $20,000 per month net of tax from the Andacollo gold mine royalty. This income
      is insufficient to fund our operating expenses which total about $45,000 per
      quarter. We are presently evaluating the potential cost of defending our
      contractual rights to receive the Andacollo royalties. We will need to raise
      capital in the financial markets to fund our ongoing exploration activities
      and
      conduct ongoing operations.





We
      are
      continually evaluating business opportunities such as joint ventures, mergers,
      acquisitions, and strategic alliances with the objective of creating additional
      cash flow to sustain the corporation and provide a future source of funds for
      growth. Although we believe that we will find financing for our continuing
      activities, we cannot assure you of success in this regard. If we are not
      successful in raising additional capital, operations and liquidity will be
      adversely impacted.




During
      the nine months ended June 30, 2007, debenture holders converted $275,836 of
      principal amounts to shares as compared to $134,064 of conversion in the same
      period of 2006.





***Summary
      of Cash Flows for Six Months ended June 30, 2007:***


The
      Company’s cash and cash equivalents declined by an amount of $324,128 during the
      nine months ended June 30, 2007.





***Operating
      Activities:***


Operations
      used $324,128 of cash during the nine months ended June 30, 2007 as compared
      to
      $1,072,318 used by operations in 2006.





***Investing
      Activities:***


During
      the nine months ended June 30, 2007 there were no cash flows from investing
      activities. During 2006, cash was provided by investing activities as a result
      of the sale of Andacollo Gold Mine property with the retained royalty discussed
      above.





***Financing
      Activities:***


During
      the nine months ended June 30, 2007 there were no cash flows from financing
      activities, as compared to the nine months ended June 30, 2006 in which 1.5
      million shares of common stock were issued in a private placement for $150,000,
      $1,025,000 was received from the issuance of convertible debt, and payments
      of
      $560,000 were made on notes payable.





16




***Outlook:***





Operations


Due
      to
      the dispute regarding our Andacollo royalty, we cannot predict the amount of
      royalty payments that we may receive in the future. We will need to spend
      $630,000 by the end of the calendar year to maintain our rights at Stillwater,
      Montana, and we estimate that all other operating expenses will be approximately
      $45,000 per quarter.





Investing
      Activities


At
      present, we have no plans to engage in any investing activities during fiscal
      2007.





Financing


During
      the next 12 months approximately $732,000 of principal will be due on our
      long-term convertible debt. We believe that all of the principal repayment
      and
      most of the related interest obligation will be paid by the issuance of common
      stock.





At
      June
      30, 2007, we had outstanding warrants to purchase 19,513,174 shares of common
      stock that, if exercised, would result in aggregate proceeds of approximately
      $4,067,000. Also, there are outstanding options to purchase 1,975,000 shares
      of
      common stock that, if exercised, would result in aggregate proceeds of
      approximately $657,000. However, as of June 30, 2007, none of the outstanding
      warrants or options was in-the-money. No assurance can be made that any or
      all
      of the warrants or options will ever be exercised. We will need to raise
      additional capital in the financial markets to fund our ongoing exploration
      activities and conduct ongoing operations.





The
      balance of convertible debt owed by Trend at June 30, 2007, is as follows:





**PrincipalAmounts**
            
            
            **Maturity
                Date**
            
            
            **Interest
                Rate**$
            940,638
            
            
            August
                2008
            
            
            8%$
            753,471
            
            
            January
                2008
            
            
            Prime
                plus 3%$
            868,978
            
            
            June
                2009
            
            
            10%Total
            
            $
            2,563,087





**ITEM
      3.**  **CONTROLS
      AND PROCEDURES** .




(a)
      Evaluation of disclosure controls and procedures.




Within
      the 90 days prior to the filing of this Quarterly Report on Form 10-QSB (the
      “Evaluation Date”), the Company carried out an evaluation, under the supervision
      and with the participation of its management, including its Interim Chief
      Executive Officer and its Chief Financial Officer, of the effectiveness of
      the
      design and operation of the Company’s disclosure controls and procedures (as
      defined in Rules 13a-14(c) and 15d-14(c) under the Exchange Act). Based upon
      that evaluation, the Company’s Chief Executive Officer and its Chief Financial
      Officer concluded that the Company’s disclosure controls and procedures are not
      effective to ensure that material information required to be disclosed by it
      in
      the reports that it files or submits under the Exchange Act is recorded,
      processed, summarized and reported within the time periods specified in the
      Securities and Exchange Commission rules and forms.




It
      should
      be noted, that the design of any system of controls is based in part upon
      certain assumptions about the likelihood of future events, and there can be
      no
      assurance that any design will succeed in achieving its stated goals under
      all
      potential future conditions, regardless of how remote.




17




(b)
      Changes in internal controls.




During
      the fiscal quarter ended June 30, 2007, t here
      have
      been no changes to the Company’s internal controls over financial reporting that
      has materially affected or is reasonably likely to materially affect the
      Company’s internal controls over financial reporting.


18




**PART
      II - OTHER INFORMATION**




**ITEM
      1.**  **LEGAL
      PROCEEDINGS.**




As
      part
      of the consideration for the sale by Trend of equity interest in DMC Cayman,
      Inc. ("DMC Cayman") to Oro Chile, LLC, a Colorado limited liability company
      ("Oro Chile") and David H. Russell, Susan T. Russell and David H. Russell III
      (collectively the "Russell Interests") dated December 2, 2005, each of Oro
      Chile
      and the Russell Interests agreed to pay to Trend a net smelter returns royalty
      (the "Royalty") on the production from the Andacollo Mine located in Chile
      (the
      "Mine"). The Mine is indirectly owned by DMC Cayman. Oro Chile and the Russell
      Interests initially paid the Royalty to Trend; however, Oro Chile and the
      Russell Interests have ceased paying the Royalty, and informed Trend that they
      have no current intention of making any further payments under the Royalty.
      Trend is exploring what legal remedies it may have against Oro Chile and the
      Russell Interests based on this action.




**ITEM
      2.**  **UNREGISTERED
      SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.**




During
      the quarter ended June 30, 2007, we issued an aggregate of 44,840 shares of
      common stock to accredited investors as payment of interest and principal on
      promissory notes outstanding. We relied on the exemption from registration
      found
      in Section 4(2) of the Securities Act in connection with this
      issuance.




All
      shares issued in connection with the above described events were issued to
      existing stockholders or individuals or entities previously known to us. At
      the
      time of each issuance, Trend was not aware of any such investor having any
      current intent to resell Trend’s stock.




**ITEM
      6. EXHIBITS** **.**


**Exhibit**
              
              **Description**31.1
              
              Certification
                  Required Under Section 302 of Sarbanes-Oxley Act of
                  200231.2
              
              Certification
                  Required Under Section 302 of Sarbanes-Oxley Act of
                  200232.1
              
              Certification
                  Required Under Section 906 of Sarbanes-Oxley Act of
                  200232.2
              
              Certification
                  Required Under Section 906 of Sarbanes-Oxley Act of
                  2002


19


**SIGNATURES**




In
      accordance with the requirements of the Exchange Act, the registrant caused
      this
      report to be signed on its behalf by the undersigned, thereunto duly
      authorized.


**TREND
                MINING COMPANY**Date:
                  September 11, 2007By:
              /s/
                  Ishiung WuIshiung WuInterim President and Chief Executive Officer(Principal Executive Officer)By:
              /s/John
                  P. RyanJohn P. RyanTreasurer and Chief Financial Officer(Principal
                  Financial Officer)




20